Aurizon Holdings Limited is Australia's largest rail freight operator, providing integrated freight and logistics solutions across rail and road networks to connect miners, primary producers and industry with domestic and international markets. The company operates through four major segments: Network, which manages the 2,670 kilometer Central Queensland Coal Network and offers access, maintenance, rail design, engineering, construction and management services; Coal, which hauls coal from Queensland mines; Bulk, which transports mining, agricultural, industrial and iron ore commodities; and Containerised Freight, which delivers retail and intermodal products. Aurizon Holdings serves customers in the mining, agriculture, metals and industrial sectors primarily in Australia, with operations spanning Queensland, New South Wales, Western Australia and South Australia; it was incorporated in 2010 as QR National Limited, renamed in December 2012, and is headquartered in Fortitude Valley, Queensland. Recent developments include a landmark up-to-15-year contract with BHP for rail and road haulage of copper from South Australia operations announced in June 2025, one of Australia's largest road-to-rail conversions; commencement of iron ore haulage services for Yilgarn Iron from Koolyanobbing to Esperance Port through December 2029 in November 2025; a non-binding term sheet for a new Draft Amending Access Undertaking (UT6) with Network customers in July 2025 to enhance regulatory certainty; a $60 million annualised cost reduction program actioned for FY2026 including 200 full-time-equivalent role reductions; completion of a $300 million on-market share buy-back in FY2025 followed by a new $150 million buy-back announcement; and an agreement with Alcoa in October 2025 for a new technology trial in Western Australia.